Automotive Filters Market: Likely To Experience A Tremendous Growth In Near Futu

Posted by Harshad Borde on December 31st, 2019

Automotive Filters Market

Global Automotive Filters Market: Overview

The booming automotive industry has been the very reason for the growth of the global automotive filters market. As the emerging economies witness significant investments in the automotive sector, its related industries are also expected to witness a stupendous rise. Furthermore, growing interests of government in leveraging economies through foreign investments is expected to fuel the growth of the automotive sector, which is expected to have a positive impact on the global automotive filters market in the forthcoming years. According to the research report, the global automotive filters market is expected to be worth US.83 bn by the end of 2025 from US.14 bn in 2016. During the forecast period of 2017 and 2025, the global market is expected to surge at a CAGR of 3.24% in terms of revenue.

Increasing Pollution to Boost Demand for Air Filters over Forecast Period

Based on the types of automotive filters, the global market has been segmented into air filters, fuel filters, oil filter, air cabin filter, steering filter, hydraulic filters, and other filters. In 2016, the air filters and fuel filters segment held the highest market share of the global market. An air filter helps in cleaning the air that enters the engine for combustion. Fuel filter helps in cleaning the fuel that enters in engine for combustion. Various materials are used in car air filters including foam, paper, and cotton. The increase in pollution levels and requirement for high efficiency cars are likely to boost the demand for these filters during the forecast period. Growing carbon emissions and falling carbon emissions ceiling levels are predicted to attribute towards the growth of air, engine, fuel and oil filters preferably.

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By vehicle type the global market has been segmented into passenger vehicles, commercial vehicles, and others. The passenger vehicles segment is likely to propel the demand for filters at a significant pace during the forecast period due to increasing miles driven per year by each country constantly on account of the hub spoke architecture of metropolitan cities and suburban areas. Continuous increase in the production of passenger vehicles is key factor in the growth of automotive filters. High replacement rate due to the need for maintenance of commercial vehicles in workable conditions is expected to be a major driving factor for this segment. As failure can lead to huge losses, commercial vehicle owners take extra care to ensure smooth running of their fleets. This in turn is likely to fuel the growth for filters emanating from the commercial vehicles segment.

The global automotive filters market, by end-use industry has been classified into OEMs and aftermarketAftermarket segment is expected to grow at a steady rate during the forecast period 2017- 2025. High replacement rate on account of limited lifespan (15000 Km/ 1 year) are some of the reasons for the high growth of the aftermarket segment. Some Tier 1 filters are functionally stronger than OEM procured filters as well. These factors are likely to boost the growth of aftermarket end-use segment.

Higher Uptake of Passenger Vehicles in Asia Pacific to Drive Regional Market

By geography, the global automotive filters market has been segregated into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. In 2016, the largest share of the global automotive filters market was acquired by Asia Pacific on account of burgeoning production in the Asian countries. Europe followed by Asia Pacific jointly held about 74% of the market in terms of revenue in 2016. The key factors that are driving the growth of the market in these regions are an increasing need for efficiency and productivity coupled with the impetus to increase manufacturing activities. The emerging countries of Asia Pacific are expected to record the highest growth rate during the forecast period. Increasing production of passenger vehicles, owing to several factors such as lower cost of production, increase in productivity and safety in operation of vehicles are set to drive the market of automotive filters in the this region from 2017 to 2025.

Some of the major players in the automotive filters market are: Sogefi SpA (Italy), MAHLE GmbH (Germany), MANN+HUMMEL GmbH (Germany), A.L. Filter (Israel), Robert Bosch GmbH (Germany), Donaldson Company, Inc. (U.S.), North American Filter Corporation (U.S.), Fildex Filters Canada Corporation (Canada), K&N Engineering, Inc. (U.S.), Filtrak BrandT GmbH (Germany), Luman Automotive Systems Pvt. Ltd. (India), ALCO Filters Ltd. (Cyprus), and Siam Filter Products Ltd., Part. (Thailand).

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Harshad Borde

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Harshad Borde
Joined: April 26th, 2019
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